ACS Assessor Guide - Security Industry Authority

ACS Assessor GuideSection 4 – Criterion Specific Guidelines: Criteria 4Criteria 4 – Financial Management4.1 An SIA Approved Contractor can demonstrate that it has suitable financial resources to manage its financial obligations.4.1.1 Two years accounts can be presented and/or the availability of funding for the achievement of the plan for the business can be evidenced.Required Achievement LevelOrganisations operating forfour or more years:The organisation has at least thelast two years annual accountsavailable and can demonstrate ithas the funding available toachieve its plan for the business.Organisations operating forunder four years:The organisation has annualaccounts available for the numberof years it has been in businessand can demonstrate it has thefunding available to achieve its planfor the business.Newly created organisations:The organisation can demonstrateit has the funding available toachieve its plan for the business.All aspects of the previouscolumn plus:There is a clear link between thefinancial plans for the business andrelated activity such as marketing,service delivery and businessimprovement.The organisation has financialforecasts/projections for keyaspects of the business.There are no outstanding countycourt judgements against theorganisation or its directors.Where required, the organisationsubmits annual accounts andreturns to Companies House withinthe specified time limits.All aspects of the previouscolumn plus:The organisation has financialforecasts/projections for all aspectsof the business.There is clear information abouthow the organisations finances aremanaged.The organisation is aware of itscredit rating and this iscommensurate with its plans for thebusiness.The organisation maintains arecording system identifying andverifying all income streams.All aspects of the previouscolumn plus:The organisation makes its staffaware of relevant financial aspects,including the financial performanceof the organisation.All aspects of theprevious column plus:The organisation enters into‘open book’ approach withcustomers in relation to itsfinances.82The contents of this publication are copyright ©2013 Security Industry Authority, all rights reserved. No part of the contents may be reproduced or transmitted in any form, by any means without prior written permission of the copyright owner.